Joint Venture8 Jan 2026, 02:27 pm
Arihant Foundations & Housing Ltd and Prestige Estates Projects Limited Jointly Enter Agreement to Sell Land to Sundaram-Clayton Limited
AI Summary
Arihant Foundations & Housing Ltd and Prestige Estates Projects Limited, through Canopy Living LLP, a limited liability partnership, have entered into an Agreement to Sell (ATS) with Sundaram-Clayton Limited. The agreement is for the purchase of freehold land admeasuring 16.381 acres, situated at Korattur Village, Ambattur Taluk, Chennai District, Tamil Nadu. The transaction is subject to completion of conditions precedent and is expected to be completed by 11th February 2026. An advance of Rs. 25 Crores has been paid, with the balance consideration of Rs. 535.67 Crores to be received upon execution of the Sale Deed.
Key Highlights
- Arihant Foundations & Housing Ltd and Prestige Estates Projects Limited jointly own Canopy Living LLP.
- Canopy Living LLP has entered into an Agreement to Sell with Sundaram-Clayton Limited.
- The land in question is freehold and admeasures 16.381 acres.
- The transaction is subject to completion of conditions precedent and is expected to be completed by 11th February 2026.
- The balance consideration of Rs. 535.67 Crores will be received upon execution of the Sale Deed.